Tag Archives: TDF

The Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding (MoU) with the Radisson Hotel Group to develop hospitality and tourism projects across the Kingdom of Saudi Arabia. The first project under this memorandum is expected to be announced in H2 of 2023. The strategic partnership between the two parties will see the development of several properties focused on urban hotels, resorts, serviced apartments and other unique assets with the objective of enhancing the tourism offering in the country. The properties will be developed over the next several years in the targeted destinations under the Saudi National Tourism Strategy and in line with the Saudi Vision 2030. The developments will be under Radisson’s leading brands, to be agreed upon by the parties, it is worth noting that the work of the strategic partnership has been already started between the two parties. The TDF enables world-class companies to invest in, develop, and operate high-quality hospitality, lifestyle, entertainment, and other iconic projects within Saudi Arabia. These investments provide nationals, residents and visitors with more tourism and leisure options, enhancing the quality of life across the Kingdom. Radisson Hotel Group is a leading international hotel group, already present with 26 hotels and resorts and more than 20 properties under development in the country, across several of its leading brands such as Radisson Collection, Radisson Blu, Radisson and Park Inn by Radisson which can be found in key urban and coastal locations. Under this agreement with the TDF, Radisson plans to grow its portfolio by a further several hotels to a total portfolio of over 50 hotels in the Kingdom. Commenting on the agreement, Qusai Al-Fakhri, CEO of the Tourism …

Expanding its roster of collaborators, the Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with an affiliate of Hyatt Hotels Corporation to establish luxury hotels across the Kingdom of Saudi Arabia. The collaboration aims to develop several hospitality-led destinations which will enhance the tourism offering in Saudi Arabia. These destinations may include beach and urban hotels, as well as mountain, desert and farm retreats. They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, which offer an authentic wellness destination experience, or other trademarks such as Park Hyatt, Hyatt Centric, Grand Hyatt and any other Hyatt brands mutually agreed upon by the entities. The development of these hotels would be part of the Kingdom’s National Tourism Strategy and in line with Saudi Vision 2030. Commenting on the agreement, CEO of the Tourism Development Fund Qusai Al-Fakhri, said, “We are joining forces with many legacy brands in the tourism, hospitality, and business travel segments as we continue to thoughtfully expand our roster of collaborators. This collaboration with Hyatt will help us to attract tourists and ensure that they receive a comfortable, high-quality experience in the Kingdom’s top tourism destinations.” Hyatt has one of the world’s largest portfolios of hotels and resorts, focused on the high-end travellers in each segment that it serves, and is continually growing its brand footprint. It has established an industry-leading luxury, lifestyle, and leisure portfolio across Europe, the Middle East, and Africa, which is significantly contributing to its global expansion. Regional Vice President, Development – Middle East and Africa at Hyatt Ludwig Bouldoukian, said, “Saudi Arabia is the largest emerging market in the Middle East and has made significant advances …

Minor Hotels announced the signing of a Memorandum of Understanding (MoU) with Saudi Arabia’s Tourism Development Fund to jointly develop and operate high-quality hospitality and lifestyle projects focused on mountain resorts, wellness resorts and urban hotels within the Kingdom. The first project under this partnership is expected to be announced in H2 this year. The establishment of a strategic partnership between the two parties in exclusive regions in Saudi Arabia, will see the development of multiple hospitality projects over the next couple of years. Minor Hotels will act as an operator and partner in each of the projects, which are expected to become distinct destinations in their respective locations. The group’s flagship brands include Anantara, Avani, Tivoli and Oaks and hospitality projects under these brands will be established in locations across Saudi Arabia mutually agreed by both parties. The development of these hotels and resorts is consistent with the Kingdom’s National Tourism Strategy (NTS) and in line with the Saudi Vision 2030. The projects will be developed in the targeted tourism destinations specified in the National Tourism Strategy and will be announced soon. Saudi Arabia’s Tourism Development Fund supports tourism investment in the Kingdom, linking private sector investors with public funding opportunities. It was set up in 2020 to harness opportunities and fund development in the tourism ecosystem and tourism destinations across Saudi Arabia. The luxury brand Anantara will constitute at least one of the agreed projects. Anantara is known for its experience-led and heartfelt hospitality in some of the world’s most exciting destinations. With Thai roots, Anantara Hotels, Resorts & Spas is already well known in the GCC region and has more than 10 properties in the United Arab …

Saudi Arabia’s Tourism Development Fund (TDF) announced the signing of a financing agreement with Shada Real Estate Development and Investment Company. The agreement is to establish a 4-star boutique hotel featuring 110 hotel rooms in Jeddah, one of the targeted tourist destinations. The hotel will be designed with a mix of the architectural styles of Makkah region and the local style. The announcement of this agreement coincided with the Future Hospitality Summit – FHIS – held in Riyadh from May 7 to May 9, 2023, which witnessed the presence of a large number of government dignitaries and officials of the tourism and hospitality industry, as well as a group of prominent developers, investors, hotel owners and operators, to discuss the prospects of growth and development of the tourism and hospitality sector in the Kingdom. The hotel will be characterised by its design, inspired by the local style mixed with architectural touches specific to the Makkah region. Shada Development and Real Estate Investment aims to revive, preserve and highlight the essence of the cultures of the various regions in the Kingdom, especially the architectural cultural heritage of the city of Jeddah. TDF’s agreement with Shada Hotels will contribute to the growth of the Kingdom’s economy and achieve the goals set out within the National Tourism Strategy. Qusai bin Abdullah Al-Fakhri, CEO of the Tourism Development Fund, said: “TDF’s purpose is to be the main enabler for investors, in order to serve the objectives of the National Tourism Strategy. This agreement with our partner Shada Company is one of the ways in which the Fund is helping to activate tourism destinations in the Kingdom, which will contribute to supporting investment and motivating …

KSA’s Tourism Development Fund (TDF) announced the signing of a financing agreement with Golden Frond Hotel Services Company, a subsidiary company of the Afyaa Group to develop the ENVI Al Nakheel ecolodge in Al-Ahsa Oasis. The agreement demonstrates the commitment of both parties to advance sustainable tourism development, in line with the objectives of KSA’s National Tourism Strategy and the Kingdom’s Vision 2030. The announcement of this agreement coincided with the FHS Future Hospitality Summit held in Riyadh from May 7 to May 9, 2023. The Al-Ahsa region is one of the targeted tourist destinations and home to one of the largest oases in the world. It is the first site in the region to be registered on the UNESCO World Heritage List because of its rich archaeological features, which show evidence of human settlement in the region since the Neolithic era. These historical attractions make Al Ahsa the ideal location to create tourism facilities where visitors can enjoy its beauty and charm. The Future Hospitality Summit witnesses the participation of a number of senior government figures, officials from the tourism and hospitality industry, as well as prominent developers, investors, hotel owners and operators, to discuss prospects for the growth and development of the tourism and hospitality sector in the Kingdom. The agreement ratifies the importance of the Al-Ahsa region, which is one of the ten targeted tourist destinations. ENVI Al Nakheel will provide 25 lodging pods consisting of one- and two-bedroom units. The destination will also include several facilities such as farm-to-table dining, spa, local arts & crafts, and a selection of unique activities. The lodge will be operated by ENVI Lodges – the eco-friendly, premium quality luxury lodge …

As part of the World Travel & Tourism Council (WTTC) Global Summit in Riyadh, Hilton has announced a strategic partnership with the Saudi Tourism Development Fund (TDF) – as well as agreements with several public and private developers for new hotels in destinations across Saudi Arabia. In the coming years, Hilton expects to grow its portfolio to more than 75 hotels in the Kingdom across multiple award-winning brands. H.E. Ahmed Al Khateeb, Saudi Arabia’s Minister of Tourism, said: “Saudi Vision 2030 has set the bar high for the Kingdom’s travel and tourism industry and we are committed to making Saudi Arabia one of the world’s top tourist destinations in the years to come. We are leaving no stone unturned to work on innovative projects with globally leading industry partners and look forward to achieving milestones through our collaboration with Hilton.” Chris Nassetta, President and CEO, Hilton, said, “It was incredible to be back in the Kingdom of Saudi Arabia for the WTTC Global Summit and to meet with important partners. Hilton has operated in the Kingdom for more than 25 years, providing world-renowned hospitality and helping to shape an exciting future for tourism with new hotels in exciting destinations. The strength of Hilton’s partnerships in Saudi Arabia is testament to the government’s strategic vision and the incredible progress being made to develop the country’s tourism infrastructure, paving the way for a new golden age of travel.” During WTTC, Hilton and TDF signed a memorandum of understanding (MoU) to develop family-friendly leisure destinations across several Saudi locations in alignment with the National Tourism Strategy. These destinations will have one or more of Hilton’s brands, including Hilton Hotels & Resorts, Canopy by …